Greenpeace Gambles £3 Million

Greenpeace-logoGreenpeace International last year lost €3.8m (£3m) of donations through speculation on currency markets.

According to a statement released on Sunday, in the second half of 2013 an employee at the environmental campaign group’s Amsterdam headquarters took out currency exchange contracts that speculated on a weak euro. As a result of the euro strengthening later in the year, Greenpeace had to file record losses when closing accounts at the end of the year. Its 2013 annual report will show a budget deficit of €6.8m.

“We offer a full apology to our supporters for the series of errors that led to the loss,” the group’s statement said. “We further wish to reassure people that every possible action is being taken to avoid the possibility of such a loss ever occurring again in future.”

Read the statement here.

Honestly, you couldn’t make this stuff up!!!

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